For professional basketball junkies, the 161-day NBA lockout this past summer and fall meant no free agency, no training camp, no trades and nothing to look forward to. The fifth such work stoppage in NBA history, this lockout was precipitated by the expiration of the 2005 collective bargaining agreement between the owners and players with the main sticking point being revenue sharing.
Despite the angst it cost fans, players and owners alike, the NBA Lockout also had an impact on taxes and even the IRS. With a shortened season, and the loss of 14 games, players, owners, local arenas and their employees also lost out. In addition to those businesses and individuals, local, state and Federal taxing authorities also were short-changed thanks to the abbreviated season.
Here’s our latest infographic showing the tax impact of the NBA lockout as well as other fascinating tax items related to professional basketball here in America.
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